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- Eurozone February industrial output rises more than expected
Eurozone February industrial output rises more than expected
Eurozone's
industrial production increased at a faster-than-expected rate in February,
recovering from the previous month's contraction, latest data showed Friday.
Industrial
production increased 0.4 percent on a monthly basis in February, reversing the
revised 0.6 percent decrease seen in January, statistical office Eurostat said.
Economists had forecast output to grow 0.2 percent, following the previous
month's originally reported 0.4 percent decrease.
The rebound
was driven mainly by a 2.6 percent growth in energy production, and a 1.3
percent gain in durable consumer goods output. Offsetting these gains
partially, production of non-durable consumer goods decreased 1.5 percent from
a year earlier.
In the
European Union, industrial production advanced 0.4 percent sequentially, after
falling 0.5 percent in the previous month, which was revised down from a 0.4
percent contraction.
Year-on-year,
industrial production decreased at a faster rate of 3.1 percent in February
than the revised 2.4 percent fall in January. The rate of fall was forecast to
accelerate to 2.5 percent from the originally reported 1.3 percent.
The annual
rate of fall in EU eased to 3 percent in February from January's revised 4
percent, data showed.
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